Rosemont to sell 14 acres for indoor ...

Rosemont to sell 14 acres for indoor shopping mall

There are 69 comments on the Chicago Tribune story from Mar 4, 2009, titled Rosemont to sell 14 acres for indoor shopping mall. In it, Chicago Tribune reports that:

Rosemont has agreed to sell 14 acres of village-owned property to a joint venture that plans to build a $275 million enclosed outlet mall in the northwest suburb, officials said Wednesday.

Join the discussion below, or Read more at Chicago Tribune.

Buster

Cicero, IL

#42 Mar 5, 2009
Sell 'em the land. Just cash that check fast. You'll get the land back later after the bankruptcy.
Buster

Cicero, IL

#43 Mar 5, 2009
vla wrote:
We have to buy all those products from China in order for them to keep lending us money.
No we don't and we aren't. They can't afford to NOT buy our debt. We got where we want 'em. Suckers.
juvi

Alpharetta, GA

#44 Mar 5, 2009
Hello!?! Stores going belly up, tons of empty buildings, the economy in a slump...someone pleeeeeze explain to me WHY we need another mall? Are Developers in denial or just plain stupid? And why are villages giving them the tax breaks to do it?
juvi

Alpharetta, GA

#45 Mar 5, 2009
jcarlilesiu wrote:
<quoted text>
WE aren't spending anything, the devolopers are.
This is called the "free market". We don't "allow" people to do anything. If factories found it profitable to operate in this country, they would build here. Address that.
I disagree. The Village is most likely giving tax incentives or other monetary breaks. These incentives cost the Village money initially until they get the tax revenues. Who pays for that upfront costs? The taxpayers>
naschkatze

Redmond, OR

#46 Mar 5, 2009
When I lived in Winfield over twenty years ago, it was surrounded by corn and winter wheat fields as were other places like Hoffman Estates. Stopping at a country store one day, I heard the owner bemoan the fact that Illinois had some of the richest farm land in the world but it was all being stripped away to put in shopping malls. I see you're still going at it, but wouldn't it be wonderful if somehow all this could be reversed and the stripped away soil replaced? Illinois, the country, and the world are going to need more food in the future, not shopping malls.
Starman

North Chicago, IL

#47 Mar 5, 2009
well I am certain that people will shop there thinking they are getting "deals" when they 20-30% discounts off of 150-200% markups.
cch

United States

#48 Mar 5, 2009
Silly, silly idea. Who did the due diligence on this project? Apprently it was drive-by due diligence....
jeffs

Roselle, IL

#49 Mar 5, 2009
FINALLY! I can drive to ROSEMONT and fight traffic and shop 120 stores. What a dream come true. Sick am I over that ancient woodfield and Oak brook and Old Orchard and Northbrook and all the others that are struggling to keep their doors open!

I am hoping cook county raises their tax a bit more so I can plug some loser name Todd Strogers Budget up.

Signed,
Stuippid
jeffs

Roselle, IL

#50 Mar 5, 2009
Buster wrote:
<quoted text>
No we don't and we aren't. They can't afford to NOT buy our debt. We got where we want 'em. Suckers.
Buster you are wrong. Or maybe you are kidding
XXX

Crystal Lake, IL

#52 Mar 5, 2009
all you peeps need to shut your pie holes. I bet every single one of you have gone to a concert at either the allstate or theatre there and raved about it because it was soooo nice not having to go all the way to tinley park or the uc. If you don't like rosemont that much then don't go there.
I bet the mall will do just fine as long as you blowhards don't go there screaming and spouting off anti rosemont remarks and ruin it for the rest of us.
Huh

Huntley, IL

#53 Mar 5, 2009
Chinamerica wrote:
The reason Obama has no stimulus incentives for American manufacturers is because he does not want to upset China. If he does, they will not buy American Bonds that must be sold to pay for the stimulus which is being funded by a federal deficit.
China knows that American manufactures can compete with them if modern high production machinery is used. That type of machinery is expensive and most manufactures today cannot justify or afford to buy them without tax incentives. So American manufactures just continue to use labor intensive old machinery until they go bankrupt. Then the old machines are sold to China.
Our congressman are all lawyers so they just can't grasp the concept of how manufacturing of vital products in Amreica provides both jobs, job training and advancement, independence from foreign influences, and security.
So sad.
I agree. In the 70's manufacturing turned the economy around not building malls and generating more services.
Chase

Skokie, IL

#54 Mar 5, 2009
XXX wrote:
all you peeps need to shut your pie holes. I bet every single one of you have gone to a concert at either the allstate or theatre there and raved about it because it was soooo nice not having to go all the way to tinley park or the uc. If you don't like rosemont that much then don't go there.
I bet the mall will do just fine as long as you blowhards don't go there screaming and spouting off anti rosemont remarks and ruin it for the rest of us.
Thank you Mayor (Donalds my daddy) Stephens.
TCM

Manteno, IL

#55 Mar 5, 2009
They are worried about financing? I thought that Rosemont Mayor Stephens Jr. would just go to the Mafia - that is where the family ties are. Anyone who lives there knows that is the deal. Crook County keeps on rolling....

Since: Nov 07

Dublin, OH

#56 Mar 5, 2009
juvi wrote:
<quoted text>
I disagree. The Village is most likely giving tax incentives or other monetary breaks. These incentives cost the Village money initially until they get the tax revenues. Who pays for that upfront costs? The taxpayers>
The village must feel that any additional cost on the taxpayer for this development will be profitable in the future. The article says nothing about tax incentives. Regardless, even if they didn't apply taxes for 5 years on the 10.4 million dollar peice of property, how much sales tax will the village make?

How can people be so against development? At a slow time in the economy, its best to develop, build, and put people to work. Why do you think they spent all that federal money for projects around the country during the great depression?

Sitting back and saying "our economy is bad, we don't have money for this" is the reason why the economy continues to falter.

Since: Nov 07

Dublin, OH

#57 Mar 5, 2009
naschkatze wrote:
When I lived in Winfield over twenty years ago, it was surrounded by corn and winter wheat fields as were other places like Hoffman Estates. Stopping at a country store one day, I heard the owner bemoan the fact that Illinois had some of the richest farm land in the world but it was all being stripped away to put in shopping malls. I see you're still going at it, but wouldn't it be wonderful if somehow all this could be reversed and the stripped away soil replaced? Illinois, the country, and the world are going to need more food in the future, not shopping malls.
What percentage of land in Illinois do you think is "developed" preventing agriculture?
Herman B

United States

#58 Mar 5, 2009
I would never go to a mall in Rosemont, why not drive 15 minutes up the road to Schaumburg. I never go to the allstate areana either what a waste, their traffic control is horrible. The mayor (Stephens) is corrupt, they already have traffic cameras (ransom generators) on Higgins Av. I hope they build it and go bankrupt and Rosemont is incorporated into city of Chicago.

Since: Nov 07

Dublin, OH

#59 Mar 5, 2009
jeffs wrote:
<quoted text>
Buster you are wrong. Or maybe you are kidding
He's not entirely wrong.

Their economy is so linked to ours, they buy our debt to maintain their own currency. It is not in China's interest at all for their number one importer and number one trade partner to collapse. They would fall right with us.
NICEPLAN

San Francisco, CA

#60 Mar 5, 2009
call me when the going out of business sale starts.
juvi

Alpharetta, GA

#61 Mar 5, 2009
jcarlilesiu wrote:
<quoted text>
The village must feel that any additional cost on the taxpayer for this development will be profitable in the future. The article says nothing about tax incentives. Regardless, even if they didn't apply taxes for 5 years on the 10.4 million dollar peice of property, how much sales tax will the village make?
How can people be so against development? At a slow time in the economy, its best to develop, build, and put people to work. Why do you think they spent all that federal money for projects around the country during the great depression?
Sitting back and saying "our economy is bad, we don't have money for this" is the reason why the economy continues to falter.
Maybe it's because I live close to the Arboretum of South Barrington, where with in 2 months of opening stores are closing one by one. I am not against development if it makes sense, but building malls when there are plenty of empty store locations and building houses where there are tons of homes for sale/foreclosing is just a waste of land. Heck, why don't we just pay the entire planet and be done with it.
juvi

Alpharetta, GA

#62 Mar 5, 2009
Sorry, I meant "pave" the entire planet.

Kinda ruins the rant.

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